Do you know if you are covered for disability?

For a small business owner in particular, the cost of an absent employee can be incredibly detrimental to a company’s progress. The Work Loss Data Institute revealed that the cost of disability in terms of lost time at work costs more than the total medical costs of that same employee. 

  • A 35 year-old male weighing 170 pounds has a 21% chance of becoming disabled for 3 months or longer during his career if he works in an regular office job.
  • The same man, weighing 210 pounds has a 45% chance.


Do your employees have peace of mind? Check out your options:

Short-Term Disability Coverage

Short-term disability, or STD, coverage provides for employees who are disabled by an illness or injury with short-term healing time.

  • Typically provides for 60% of pre-disability income
  • Lasts for up to six months


Long-Term Disability Coverage

Long-Term Disability, or LTD, continues to provide employees for illnesses or injuries requiring even more recuperation time.

  • Continues to provide around 60% of income
  • Coverage lasts anywhere from 5 years to the rest of their life


State and federal programs only offer limited help, typically not an adequate amount to support a family in the event of disability. Workers’ Compensation is also mandated by law, but this only covers injuries and illnesses occurring at the workplace, which is a fraction of most disability claims. “A benefits package that includes disability can be a real competitive advantage for an employer, especially a small to mid-sized employer”, according to Joe Sevcik of Assurant Employee Benefits. 

If you want more information on any of this topic, check out this handy resource from America’s Health Insurance Plans.